Nickel Industries Signs Strategic Cooperation Deal for Indonesian Nickel Mine & HPAL Project, Exchanging 18% Stake in Sampala Project for 36% Interest in CNE Project

NewTimeSpace News: On June 24, 2026, Nickel Industries Limited announced that it had entered into a binding framework agreement with a consortium led by Indonesian local partner Adi Wijoyo and investor PT Jaya Agung Investasi (JAYA) to carry out long-term strategic cooperation in nickel ore mining and HPAL processing.

Pursuant to the agreement, Nickel Industries will essentially exchange its 18% interests in two mining firms ANN and ETL under the Sampala Project (with an implied value of approximately USD 44.7 million) for a 36% stake in the CNE HPAL Project (with an implied value of around USD 242 million), delivering a roughly 5.4-fold valuation uplift.

As stated in the announcement, upon completion of the transaction, Nickel Industries will remain the largest shareholder of the mining companies with a 42% holding; JAYA will hold a 30% stake, and local partners will own the remaining 28%.

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